WTI crude oil prices plunged in the pre-market session, extending a three-day decline as fears of a significant supply disruption from Saudi Arabia subsided. Earlier in the week, prices surged following an attack on the kingdom's key East-West pipeline. However, reports indicating that Saudi Arabia is working to quickly restore partial capacity and is successfully rerouting crude exports using alternative methods have calmed the market. This has removed the 'disruption premium' that was recently priced in, leading to significant profit-taking.
Crude Oil Tumbles as Saudi Supply Disruption Fears Ease
Crude oil sector
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